Public Employees Retirement System of Ohio Sells 7,885 Shares of T. Rowe Price Group, Inc. $TROW

Public Employees Retirement System of Ohio trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,090 shares of the asset manager’s stock after selling 7,885 shares during the quarter. Public Employees Retirement System of Ohio owned 0.06% of T. Rowe Price Group worth $10,645,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. TD Private Client Wealth LLC boosted its holdings in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after acquiring an additional 238 shares in the last quarter. Canton Hathaway LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $31,000. Sound Income Strategies LLC raised its holdings in shares of T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 189 shares during the period. Finally, DV Equities LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TROW. Barclays upped their price objective on T. Rowe Price Group from $89.00 to $108.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 14th. Jefferies Financial Group cut their target price on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. TD Cowen reduced their price target on T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Finally, Evercore set a $121.00 price objective on shares of T. Rowe Price Group in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $104.50.

Insider Activity at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $116.50 on Monday. The firm has a market capitalization of $24.96 billion, a PE ratio of 12.49, a PEG ratio of 4.18 and a beta of 1.47. The company’s 50-day moving average is $110.18 and its 200-day moving average is $101.74. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $121.17.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the business earned $2.23 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts predict that T. Rowe Price Group, Inc. will post 10.12 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.